The Hong Kong Jockey Club today continues its 'everyone's a winner' tradition with the announcement of one of the biggest scholarship schemes financed by the proceeds of horse-racing.
Not only is it funding degree scholarships at SAR universities and institutions for the first time, the club is making it possible for students from the mainland, as well as locals, to complete their education in the SAR.
Under a 10-year 'Building for the Future' programme, funding will be provided for 26 students every year - three from each of the SAR's eight University Grants Committee-funded institutions, along with two from the Academy for Performing Arts.
With a total commitment of $102 million, the Jockey Club Scholarship Scheme is the most prestigious awarded by the club's Charities Trust.
The latest scholarships are worth $290,000 each over three years for community-minded, talented students and continue a custom of returning racing revenue to deserving community and charity programmes that dates back almost to the founding of the club in 1884.
During the last 25 years, especially since the start of professional racing and off-course betting, that tradition had become the 'envy of the world', the club's director of charities and corporate services, David Yau, said.
Mr Yau said the fact that a recent poll found more people associated the club with hospitals and schools, rather than racing, was 'the best possible vindication for the club's model of racing for charity, and the mutual win- win it has provided for both the community and racing here'.